¶ Economic Commentary and Credit Ratings
Big, beautiful mess. This is commentary from James Brown. Moody's is the latest to say our budget is out of whack. They dropped America's credit rating, joining the other big agencies that did that years ago. That's right. Every dollar our government borrows will cost more to pay it back. Much more.
¶ The Financial Implications of Government Borrowing
And President Trump's response? A big, beautiful bill. That looks like a big, beautiful mess to me. Nonpartisan groups say this plan could add more than two and a half trillion with a T dollars to the debt in the next 10 years. That's on top of the 36 trillion. Yes, 36 trillion that we already owe. The White House says not to worry. They claim this bill will save money and not add to the deficit. Yes, both sides have their math, but the debt just keeps on rising.
¶ Understanding the Fiscal Crisis
No one seems to notice that we're in a fiscal crisis. Our politicians don't care. And it seems the new bosses are the same as the old bosses. Borrow, spend, make promises, repeat. Nobody wants to pay the bill until we're out of choices.
¶ Political Apathy and Responsibility
So what's it going to take for us to wake up? Let me know in the comments and support my work@jamesbrowntv.subsack.com on that note, I'm James Brown and as always, be well.